Bitcoin Is Pumping Up For A New ATH!
Whats up Traders!
The new week for Bitcoin has officially started. I decided to start consistently posting Weekly Analysis on Bitcoin at the beginning of its week. I aimed for a more bullish bias this week, so i'm going to briefly explain how i came up with my hypothesis.
Last week BTC topped out at $19,918, soon after it made an immediate drop to $18,100 all in one day. (December 1st)
The following days it consolidated between $19,700 & $19,160, give or take a few hundred pips to the downside.
Currently it seems it may be retracing to key levels from the 4H & Daily Time-frame. For obvious reasons I predict a rise to $20,000 & Beyond, after a breakout of Pysch level $19,500. I charted a couple scenarios for the bullish action with an arrow tool. For added confluence, I spotted a Double Bottom Pattern that isn't fully completed yet. In order for completion, price has to travel to $19,700. A failed breakout under my Blue EMA signals, that there may be no bearish strength at all...
Leave a like if you agree with my Analysis
Leave a comment if you're trading BTCUSD this week
As always I wish you a great week of trading,
-Mr.Pipzz
The new week for Bitcoin has officially started. I decided to start consistently posting Weekly Analysis on Bitcoin at the beginning of its week. I aimed for a more bullish bias this week, so i'm going to briefly explain how i came up with my hypothesis.
Last week BTC topped out at $19,918, soon after it made an immediate drop to $18,100 all in one day. (December 1st)
The following days it consolidated between $19,700 & $19,160, give or take a few hundred pips to the downside.
Currently it seems it may be retracing to key levels from the 4H & Daily Time-frame. For obvious reasons I predict a rise to $20,000 & Beyond, after a breakout of Pysch level $19,500. I charted a couple scenarios for the bullish action with an arrow tool. For added confluence, I spotted a Double Bottom Pattern that isn't fully completed yet. In order for completion, price has to travel to $19,700. A failed breakout under my Blue EMA signals, that there may be no bearish strength at all...
Leave a like if you agree with my Analysis
Leave a comment if you're trading BTCUSD this week
As always I wish you a great week of trading,
-Mr.Pipzz
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.